fineract-dev mailing list archives

Site index · List index
Message view « Date » · « Thread »
Top « Date » · « Thread »
From "ASF GitHub Bot (JIRA)" <j...@apache.org>
Subject [jira] [Commented] (FINERACT-59) Interest calculation for flat interest loans incorrect for "Same as repayment period"
Date Mon, 07 Mar 2016 11:47:40 GMT

    [ https://issues.apache.org/jira/browse/FINERACT-59?page=com.atlassian.jira.plugin.system.issuetabpanels:comment-tabpanel&focusedCommentId=15182909#comment-15182909
] 

ASF GitHub Bot commented on FINERACT-59:
----------------------------------------

GitHub user pramodn02 opened a pull request:

    https://github.com/apache/incubator-fineract/pull/27

    FINERACT-59 : corrected interest calculation for flat loans

    

You can merge this pull request into a Git repository by running:

    $ git pull https://github.com/pramodn02/incubator-fineract FINERACT-59

Alternatively you can review and apply these changes as the patch at:

    https://github.com/apache/incubator-fineract/pull/27.patch

To close this pull request, make a commit to your master/trunk branch
with (at least) the following in the commit message:

    This closes #27
    
----
commit 859c0affefe95d61c1cae8a7f158288591ba5ad0
Author: pramod <pramod@confluxtechnologies.com>
Date:   2016-03-07T11:45:56Z

    FINERACT-59 : corrected interest calculation for flat loans

----


> Interest calculation for flat interest loans incorrect for "Same as repayment period"
> -------------------------------------------------------------------------------------
>
>                 Key: FINERACT-59
>                 URL: https://issues.apache.org/jira/browse/FINERACT-59
>             Project: Apache Fineract
>          Issue Type: Bug
>            Reporter: Sander van der Heijden
>            Assignee: Markus Geiss
>            Priority: Critical
>
> After the recent refactoring of the interest calculation code, the generation of flat
interest loan schedules is having unexpected behaviour when the 'Same as Repayment period'
calculation type is selected.
> Scenario:
> - 6 month flat loan of 10,000
> - Interest rate of 20% annual
> - Disbursement date: 01-03-2016
> - First repayment date: 09-03-2016
> Expected result:
> - Total interest of 10,000 * (20%/12)*6 terms = 1000
> Current result:
> - Total interest calculated over 6 months + 8 days (the extra 8 at the start of the loan).



--
This message was sent by Atlassian JIRA
(v6.3.4#6332)

Mime
View raw message